D2C platform Bandcamp was one of the bright spots of the Covid-19 pandemic in 2020, seeing its monthly sales more than double year-on-year, including $40m of artist and label earnings during its series of Bandcamp Friday sales. Now the company has announced a quirkier milestone.
“Fans have now paid artists $666 million using Bandcamp,” tweeted the company last night, with an obligatory sign of the horns emoji. That’s up from $584m earned by artists and labels by September 2020: so around $82m in the last four and a half months, or around $18.2m a month.
The news came ahead of the latest Bandcamp Friday, which is taking place today. The company says that on average, 93% of the money paid by fans during these sales – after payment processor fees – reaches the artists and labels.
Music Ally’s next Learn Live webinar will help you build the strategies for artists to thrive in new international markets!